Guiyang City Tackles Virtual Currency Mining Activities With Transparency and Public Reporting

On November 17, the Guiyang Development and Reform Commission announced that the National Development and Reform Commission and 11 national ministries and commissions issued a notice on September 3, 2021, to regulate virtual currency “mining” activities. The national and provincial development and reform commissions have held video and telephone conferences to further arrange and deploy the rectification work of virtual currency “mining.” In order to implement the spirit of relevant national documents and meetings, Guiyang City will maintain a high-pressure situation in the regulation of virtual currency “mining” and open a rectification reporting system, welcoming all to supervise and report.

Virtual currency “mining” activities involve producing virtual currencies through special “mining machines” and include various forms of disguised data centers, hidden enterprise and Internet cafe mining, site rental services for mining companies, and illegal power supply for mining activities.

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